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SEC Filings

10-K
CINEMARK HOLDINGS, INC. filed this Form 10-K on 02/28/2014
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Table of Contents

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

 

Litigation and Litigation Settlements — From time to time, the Company is involved in other various legal proceedings arising from the ordinary course of its business operations, such as personal injury claims, employment matters, landlord-tenant disputes, patent claims and contractual disputes, some of which are covered by insurance or by indemnification from vendors. The Company believes its potential liability with respect to these types of proceedings currently pending is not material, individually or in the aggregate, to the Company’s financial position, results of operations and cash flows.

 

22. SEGMENTS

The Company manages its international market and its U.S. market as separate reportable operating segments. The international segment consists of operations in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama and Guatemala. The Company sold its theatres in Mexico on November 15, 2013. Each segment’s revenue is derived from admissions and concession sales and other ancillary revenues, primarily screen advertising. The measure of segment profit and loss the Company uses to evaluate performance and allocate its resources is Adjusted EBITDA, as defined in the reconciliation table below. The Company does not report asset information by segment because that information is not used to evaluate the performance or allocate resources between segments.

Below is a breakdown of select financial information by reportable operating segment:

 

     Year Ended December 31,  
     2011     2012     2013  

Revenues:

      

U.S.

   $ 1,593,667      $ 1,706,511      $ 1,912,674   

International

     696,119        777,663        783,053   

Eliminations

     (10,173     (10,643     (12,833
  

 

 

   

 

 

   

 

 

 

Total revenues

   $ 2,279,613      $ 2,473,531      $ 2,682,894   
  

 

 

   

 

 

   

 

 

 
     Year Ended December 31,  
     2011     2012     2013  

Adjusted EBITDA:

      

U.S.

   $ 371,212      $ 409,860      $ 455,489   

International

     148,261        179,375        169,834   
  

 

 

   

 

 

   

 

 

 

Total Adjusted EBITDA

   $ 519,473      $ 589,235      $ 625,323   
  

 

 

   

 

 

   

 

 

 
     Year Ended December 31,  
     2011     2012     2013  

Capital expenditures:

      

U.S.

   $ 79,510      $ 107,323      $ 117,488   

International

     105,309        113,404        142,182   
  

 

 

   

 

 

   

 

 

 

Total capital expenditures

   $ 184,819      $ 220,727      $ 259,670   
  

 

 

   

 

 

   

 

 

 

 

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